Welcome DT News

  • CONTACT
  • ABOUT US
Deythere
  • Home
  • News
    image 35
    NewsCryptoMarketSponsored Article

    Ditch 9 – 5 Dreams for Crypto Gains: MoonBull’s the Best New Meme Coin, and LOFI and Shiba Inu Show Momentum

    Before diving into the meme coin madness, it's worth noting that some…

    By
    Benedikt Krüger
    August 2, 2025
    image 31
    NewsCryptoMarketSponsored Article
    Pudgy Penguins Price Prediction: ATH in Sight, But Troller Cat Targets $150K Bags First
    August 2, 2025
    image 23
    CryptoMarketNewsSponsored Article
    Power Players Predict 3 Best Cryptos to Join in 2025 That Will Be the Next to Skyrocket
    August 2, 2025
    image 15
    NewsCryptoMarketSponsored Article
    Big Gains Start With Smart Choices: MoonBull’s Going Viral as the Best Crypto to Watch in 2025, While Popcat and Neiro Rally
    August 1, 2025
    image 7
    CryptoMarketNewsSponsored Article
    Buy Before 9.97% Price Jump: Troller Cat’s 399% Path Leads Best Crypto to Explode in 2025 as Cat in a Dog’s World Slips and Dogs Jumps
    August 1, 2025
  • Cryptocurrency
    image 35
    Ditch 9 – 5 Dreams for Crypto Gains: MoonBull’s the Best New Meme Coin, and LOFI and Shiba Inu Show Momentum
    10 Min Read
    image 31
    Pudgy Penguins Price Prediction: ATH in Sight, But Troller Cat Targets $150K Bags First
    8 Min Read
    image 23
    Power Players Predict 3 Best Cryptos to Join in 2025 That Will Be the Next to Skyrocket
    8 Min Read
    image 15
    Big Gains Start With Smart Choices: MoonBull’s Going Viral as the Best Crypto to Watch in 2025, While Popcat and Neiro Rally
    10 Min Read
    image 7
    Buy Before 9.97% Price Jump: Troller Cat’s 399% Path Leads Best Crypto to Explode in 2025 as Cat in a Dog’s World Slips and Dogs Jumps
    9 Min Read
    image 11
    3 Top Cryptos in August 2025 Expected to Outperform Markets with Q3’s Highest ROI Potential – Act Fast
    6 Min Read
    Previous Next
  • Pages
    • Contact Us
    • Customize Interests
    • My Bookmarks
Reading: Kraken Ends NFT Platform, Is This the End of an Era?
Share

[ccpw id=”7831″]

DeythereDeythere
Font ResizerAa
  • Home
  • Crypto
  • Market
  • News
  • Blockchain
  • Contact
Search
  • Home
  • News
  • Cryptocurrency
  • Pages
    • Contact Us
    • Customize Interests
    • My Bookmarks
Have an existing account? Sign In
Follow US
© DT News. All Rights Reserved.
Deythere > News > Crypto > Kraken Ends NFT Platform, Is This the End of an Era?
CryptoNews

Kraken Ends NFT Platform, Is This the End of an Era?

Kraken Ends NFT Platform Is This the End of an Era?
Kraken Ends NFT Platform Is This the End of an Era?
Victoria James
Last updated: November 27, 2024 10:09 am
By
Victoria James
Published November 27, 2024
4 Min Read
Share

The prominent cryptocurrency exchange Kraken has declared the conclusion of their NFT marketplace, denoting a strategic realignment toward emerging projects and priorities. The platform will cease listings, bids, and sales of non-fungible tokens beginning November 27, 2024. Users maintain the ability to withdraw assets until the marketplace ultimately closes on February 27, 2025.

Contents
Refocusing on Burgeoning InitiativesA Concise Chronicle of Kraken’s NFT PlatformThe Current State of the NFT EconomyKraken’s Renewed VisionWhat It Implies for UsersA Strategic Decision in Challenging Times
Kraken
Kraken Ends NFT Platform Is This the End of an Era?

Refocusing on Burgeoning Initiatives

Kraken validated the choice to terminate their NFT marketplace, emphasizing the necessity to distribute resources toward fresh products and services, including unnamed projects presently in development,” a company representative explained in a statement to The Block.

The company further assured users that their team would assist them with transitioning NFTs to Kraken Wallets or alternative self-custodial wallets.

A Concise Chronicle of Kraken’s NFT Platform

Kraken’s venture into the non-fungible token space was initiated in December 2021 with the declaration of their marketplace. By November 2022, the platform had entered beta testing, positioning itself as a challenger in the flourishing NFT sector. In spite of early promise, the marketplace struggled to sustain momentum amid dwindling overall action in the NFT market.

The Current State of the NFT Economy

The decision emerges at a time when NFT sales are grappling with a protracted decline. While prominent collections like CryptoPunks have experienced occasional spikes in trading volume, the broader market has been lethargic. Data from The Block reveals that weekly NFT transaction volumes haven’t surpassed $200 million since April 2024. This stagnation has influenced even established entities, underscoring the difficulties in sustaining interest and action in the sector.

Kraken’s Renewed Vision

Kraken’s move to shutter its NFT operations underscores a strategic realignment to focus on projects with greater capacity for growth and invention. The cryptocurrency exchange has stayed cryptic about its forthcoming ventures but has intimated significant advancements in the pipeline. This recalibration aligns with the company’s overarching goal of remaining competitive and adaptable in the evolving digital asset space.

What It Implies for Users

For Kraken’s NFT users, the immediate priority will be transferring assets before the February deadline. The company has committed to furnishing support throughout the transition, ensuring a seamless process for those impacted by the closure.

Crypto exchange
Kraken Ends NFT Platform Is This the End of an Era?

A Strategic Decision in Challenging Times

Kraken’s choice reflects broader industry trends, where crypto platforms reevaluate offerings to navigate market shifts effectively. By redirecting efforts toward more promising opportunities, Kraken aims to reinforce its position in an increasingly competitive industry. The move highlights the necessity for adaptability in an environment where market conditions can rapidly shift.

As Kraken charts a fresh course, the industry will watch closely to see how these changes form the company’s future and its role in the cryptocurrency ecosystem.

 

Advertising

For advertising inquiries, please email . [email protected] or Telegram

Scammers Exploit Kash Patel’s FBI Appointment With Fake Meme Coins—Investors Beware!

New Trends in the Crypto Market: Surprising Insights from Financial Experts

Crypto Wallet Phantom Overtakes WhatsApp and Instagram Rankings

US Spot Bitcoin ETFs Lose Steam After Accumulating $756M in a Week

Trump Hints at 200% Tariff, Crypto Markets React Sharply

TAGGED:Crypto exchangeKrakenNFT marketplaceNFT trading

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.
By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
Share This Article
Facebook Email Copy Link Print
Previous Article FCA Unveils Bold Plan to Regulate UK Crypto by 2026: What to Expect FCA Unveils Bold Plan to Regulate UK Crypto by 2026: What to Expect
Next Article appetite in the cryptocurrency market with Ethereum ETH leading the rally. The image features a Risk Appetite Grows as Bitcoin Slides: Altcoin Investors See Promising Shift
Leave a Comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Follow US

Find US on Socials
FacebookLike
XFollow
YoutubeSubscribe
TelegramFollow
Subscribe to our newslettern

Get Newest Articles Instantly!

- Advertisement -
Ad image
Popular News
crypto 2024
Crypto Derivatives Market Heats Up as Innovative Products Emerge
crypto approval
Blockchain Revolutionizes Energy Markets with Decentralized Trading Platforms
crypto news
Cutting-Edge Mining Technologies Drive Efficiency in Cryptocurrency Production

Follow Us on Socials

We use social media to react to breaking news, update supporters and share information

Twitter Youtube Telegram Linkedin
Deythere

DT News influence 20 million users and is the number one business blockchain and crypto news network on the planet.

Subscribe to our newsletter

You can be the first to find out the latest news and tips about trading, markets...

Menu

  • Home
  • News
  • Sitemap
© DT News. All Rights Reserved.
Banner 1
Banner 2
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?

  • English